NEW YORK (Reuters) – Activist shareholder Trian Fund Management said on Wednesday it wants PepsiCo Inc to buy Oreo cookie maker Mondelez International Inc for $35 to $38 a share, or separate its snacks and beverage business.
Officials from both companies were not immediately available for comment, but Trian said in a statement that PepsiCo had indicated it was not inclined to pursue the acquisition.
NEW YORK (Reuters) – A timeframe agreed upon between PepsiCo Inc (PEP.N: Quote, Profile, Research, Stock Buzz) and Trian Fund Management’s Nelson Peltz to privately address the activist investor’s suggestions for improving shareholder returns may be closing, according to three sources familiar with the matter.
Peltz, who has played a role in some of the global food industry’s biggest deals, revealed a stake in PepsiCo in April. The soft drink and snack maker said at the time that it had held meetings with Trian “to discuss and consider their ideas”. It did not say what those ideas were, though a concurrent purchase of Oreo cookie maker Mondelez International Inc (MDLZ.O: Quote, Profile, Research, Stock Buzz) shares fueled speculation Peltz would push for a merger.
(Reuters) – Coca-Cola Co (KO.N: Quote, Profile, Research, Stock Buzz) reported weaker-than-expected sales volumes on Tuesday due to ongoing economic malaise and unusually poor weather, sending its shares down nearly 3 percent.
Coca-Cola said overall volume rose 1 percent, which was below its expectations, and cited slow economies in Europe, Asia and Latin America. It also said historically wet and cold weather across various regions curbed sales of soft drinks and overall consumer spending.
NEW YORK, July 9 (Reuters) – As General Mills Inc
rolls out a new Yoplait Greek yogurt in the United States, it is
also thinking about expanding abroad, its chief executive
officer said on Tuesday.
Yogurt is a roughly $65 billion market worldwide, and the
controller of the Yoplait brand is studying how it might enter
other markets, including China and India, General Mills CEO Ken
Powell told Reuters.
July 3 (Reuters) – Pepsi-Cola is still using caramel
coloring containing a chemical linked to cancer in rodents, a
report released on Wednesday showed, more than a year after the
beverage maker promised to phase it out.
The Center for Environmental Health said that PepsiCo Inc.
lagged its rival Coca-Cola in removing the
chemical, called 4-methylimidazole, or 4-MI.
(Reuters) – Constellation Brands Inc (STZ.N: Quote, Profile, Research, Stock Buzz), the world’s largest wine company, posted lower-than-expected quarterly earnings on Tuesday after higher grape costs hurt margins.
Yet the maker of Robert Mondavi and Ravenswood wines raised its forecast for the full fiscal year, saying more attractive financing terms for its recent beer acquisition should lead to lower interest expense.
(Reuters) – ConAgra Foods Inc (CAG.N: Quote, Profile, Research, Stock Buzz) on Thursday posted a quarterly profit slightly ahead of Wall Street estimates and raised its long-term outlook, citing increased cost-savings from its acquisition of Ralcorp Holdings.
ConAgra, whose shares rose 4.7 percent in early trading, closed its $5 billion purchase of Ralcorp in January, making it the leading U.S. manufacturer of “private label” foods, which retailers brand as their own. It also sells branded products, including Chef Boyardee pasta and Hunt’s ketchup.
June 26 (Reuters) – Coca-Cola Co announced plans on
Wednesday to introduce a cola that is sweetened with sugar and
the naturally occurring, no-calorie sweetener stevia, the latest
move in the high-stakes race to turn around the soda industry.
Coca-Cola Life will have about half the calories of regular
Coke. It will go on sale this week in Argentina, where Coca-Cola
has 50 percent of the soda market, compared with PepsiCo Inc’s
16 percent, according to industry newsletter Beverage
Digest, which was first to report the news.
(Reuters) – Coca-Cola Co (KO.N: Quote, Profile, Research, Stock Buzz) announced plans on Wednesday to sell a mid-calorie cola sweetened with sugar and the naturally occurring no-calorie sweetener stevia in Argentina, becoming the first to market with a product long seen as being critical to the soda industry’s growth.
The new product, Coca-Cola Life, will have half the calories of regular Coca-Cola.
June 26 (Reuters) – General Mills Inc reported
higher fourth quarter-earnings but gave a forecast for the new
fiscal year that was below Wall Street estimates, citing higher
costs for ingredients and a slow economic recovery.
Shares of the maker of Cheerios cereal, Progresso soup and
other packaged foods fell less than 1 percent in afternoon